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The Bank of England’s Funding for Lending scheme to kick-start economic growth
has taken a fresh bite out of revenues at Moneysupermarket.com.

The price comparison website said in a first quarter trading update that the
Bank’s scheme was the main reason for a 45 per cent drop in revenues from
products such as savings and current accounts compared with the same period
the previous year.

It marked the fourth time that Moneysupermarket has warned about the hit from
Funding for Lending since the Bank introduced it last July.

The cheap funds made available to banks under the scheme — on condition